Richmond West, FL

Very High · 152

Florida · Population 35,988 · Updated March 2026

$2,374
Median Rent / Month
$96,282
Median Income
$448,900
Median Home Value
$2,009
Owner Costs / Month

Affordability

How far your income goes in Richmond West

29.6%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$28,488
Annual Rent
$0
State Income Tax
$3,861
Property Tax (est.)

Cost of Living Overview

Richmond West has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 152 (where 100 equals the national median), Richmond West residents can expect to pay median rent of $2,374/month while earning a median household income of $96,282/year.

The median home value in Richmond West, FL is $448,900, with typical monthly owner costs around $2,009 including mortgage, insurance, and taxes. With a rent-to-income ratio of 29.6%, Richmond West falls within the generally affordable range, though it's approaching the 30% burden threshold.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Richmond West.

Frequently Asked Questions

Common questions about living costs in Richmond West

What is the cost of living in Richmond West, FL?
The cost of living index in Richmond West, FL is 152 (US average = 100). Median monthly rent is $2,374, median household income is $96,282/year, and the median home value is $448,900.
Is Richmond West, FL affordable?
No, Richmond West is more expensive than the national average with a cost index of 152. The rent-to-income ratio is 29.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Richmond West, FL?
The median gross rent in Richmond West, FL is $2,374 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $28,488.
What is the median household income in Richmond West?
The median household income in Richmond West, FL is $96,282 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.